By Levi Winchester UK inflation fell to 3.2% in the 12 months to March, new figures released today show. This is down from the 3.4% that was recorded in February as inflation continues to edge closer to the 2% target needed by the Bank of England. The Consumer Price Index (CPI) is the main measure of inflation and it shows how the prices of goods and services have changed over time. But despite another inflation drop, prices aren’t going down – they’re still going up, just at a slightly slower pace than before. We explain what inflation represents and why it’s falling. The latest inflation fal…